State Bank of Travancore

State Bank of Travancore’s Educational Loan - Gyan Jyothi

Objective of the Scheme :

The scheme provides financial assistance to deserving meritorious students to pursue higher education in India and abroad

Eligibility of the Student  :

• The student should be an Indian National
• The student Should have  secured admission to professional \ technical courses through entrance test \ merit based selection process conducted by a Govt Agency / University
• The student Should have secured admission to foreign university institution on the basis of  merit

Studies in India :

• Approved courses leading to graduate/ post graduate degree and P G diplomas conducted by recognized colleges / universities recognized by UGC / Govt. / AICTE /AIBMS / ICMR etc.
• Courses like ICWA, CA, CFA etc.
• Courses conducted by IIMs, IITs, IISc, XLRI. NIFT,NID etc.
• Regular Degree / Diploma courses like Aeronautical, pilot training, shipping, degree / diploma in nursing or any other discipline approved by Director General of Civil Aviation / Shipping / Indian Nursing Council or any other regulatory body as the case may be, if the course is pursued in India.
• Approved courses offered in India by reputed foreign universities

Studies over a Wide Area :

• Graduation: For job oriented professional / technical courses offered by reputed universities.
• Post graduation: MCA, MBA, MS, etc.
• Courses conducted by CIMA-London, CPA in USA etc.
• Degree / diploma courses like aeronautical, shipping etc provided these are recognized by competent regulatory bodies in India / abroad for the purpose of employment in India / abroad.

Liability of Finance :

Expenses allotted for the Loan :

• Tuition / Examination
• Library / Laboratory Fee,
• Cost of Books
• Purchase of Computers / Equipments / Instruments / Uniforms
• Cost of Passage for Studies Abroad.
• Caution Deposit
• Building Fund

Quantum of Finance :

For studies in India Rs. 10 lacs

For studies abroad Rs. 20 lacs

Margin :

Upto Rs. 4 lacs - Nil

Above Rs.4 lacs -  i) Studies in India - 5%

                              ii) Studies abroad  -15%

Processing Fee / Mortgage Charges : NIL

No processing fee for studies in India.

For studies Abroad

• Upto Rs.4 lacs - 0.5%
• Above Rs.4 lacs - 0.4%( Refundable on a ailment of 1st installment )

Rate of Interest :

• 0.5 % concession for Girl student
• All Loans sanctioned on or after 01.07.2010 are linked to SBT Base Rate. Existing loans Sanctioned prior to 01.07.2010 are linked to SBT PLR

Repayment Period of the Loan :

To commence 1 year after completion of course or 6 months after getting job, whichever is earlier. The loan is to be repaid in 10-15 years after commencement of repayment.

For more Details, Kindly refer the following link :

http://www.statebankoftravancore.com/domloan.htm#gjyothi